When the Trump administration and Albanese government inked a deal for the U.S. and Australian governments to invest $4.6 billion ($3 billion USD) in critical minerals projects across Australia, the announcement came with something of an added bonus for the U.S. shortly after: a claimed commitment that Australian superannuation funds would invest “almost $1 trillion”
China HRC prices keep falling, indicating hot metal output is too high and must be cut to restore steel mill margins. Iron ore is on borrowed time while this dynamic persists. The Pilbara killer cometh. The Simandou project, the world’s largest source of untapped open-pit iron ore of the highest iron content located in Guinea,
The pent-up demand boost is gone, but there’s modest growth. Flash Australia Composite PMI Output Index: 52.6 Index, sa, >50 = growth m/m % qr/qr (Sep: 52.4) Flash Australia Services PMI Business Activity Index: 53.1 (Sep: 52.4) Flash Australia Manufacturing PMI: 49.7 (Sep: 51.4) Flash Australia Manufacturing PMI Output Index: 49.7 (Sep: 52.4) “While it
There is one thing that would put a serious cat amongst the pigeons for today’s gold and tech blowoff rallies, and that is an oil shock. A rising DXY chasing climbing real interest rates and inflation is a perfect storm for duration and gold. The news, then, is unsettling for bulls. U.S. President Donald Trump
A probable meeting between Xi and Trump next week gave some stability to markets over macro concerns that have outweighed earnings release on Wall Street, which rallied alongside European stocks overnight. Oil prices headed higher on more Ruzzian refinery setbacks and likely sanctions while the USD moved slightly lower against most of the majors except
Asian share markets are facing mixed sentiment throughout the region with a squeeze on Ruzzian oil due to sanctions helping the sweet crude market while Japanese politics are seeing a selloff in Yen and in stocks. Currency markets are seeing some strength return to the USD which has been taking back its recent lost ground
Australia’s auction market performed solidly again over the weekend, despite a high number of listings. According to Cotality, the national preliminary auction clearance rate rose to 73.8%, up from 73.0% the weekend prior and 58.2% in the same weekend of last year. “The clearance rate is an indicator that prices are going to continue to
New Zealand experienced one of the developed world’s largest rises in home values over the first 25 years of this century. However, as illustrated below by Justin Fabo from Antipodean Macro, New Zealand dwelling values have recently crashed back to 2019 levels, representing one of the largest property busts in the developed world. One year
Victoria disease is the phenomenon of a permanent Labor government leading to a mass-immigration-led economy without the aforethought of appropriate supply-side expansion to accommodate it. This economic model crush-loads public services amid fiscal wreckage, crowds out private sector growth, triggers housing perma-crisis, falling living standards and disenfranchised violence. Symptoms are everywhere. Private security guards patrolling
The Albanese government’s Housing Accord, signed with the states at National Cabinet in 2023, set a target to build 1.2 million homes over the five years from FY2025 to FY2029. This target requires 240,000 homes to be built annually. The Australian Bureau of Statistics (ABS) last week released dwelling construction data for the June quarter